Artisan Partners reports May AUM up to $186B, but faces $5.7B sub-advisory mandate termination
APAM is trading near its 52-week low of $34.99 (6.3% above the low).
Summary
Artisan Partners reported May Assets Under Management (AUM) increased to $186.0 billion, up from $183.0 billion in April. However, the company also disclosed the termination of a $5.7 billion U.S. Value sub-advisory mandate, effective early June. This mandate loss represents approximately 3% of the firm's total AUM, a material client relationship change that could impact future revenue, despite the company's assertion of a muted financial impact. This news follows an 8-K filing earlier today.
At the time of this announcement, APAM was trading at $37.19 on NYSE in the Finance sector, with a market capitalization of approximately $3B. The 52-week trading range was $34.99 to $48.50. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Wiseek News.